ACREX · CALDWELL, NJ
Route 46/23/3 Corridor Industrial Real Estate
Warehouse and flex along US 46, Route 23 and Route 3. Q3 2026 data.
Essex and Passaic County towns that US 46, Route 23 or Route 3 pass through, per Wikipedia junction lists: Fairfield, Wayne, Totowa, Little Falls, Clifton, Verona and Cedar Grove.
Market snapshot, Q3 2026
NAI James E. Hanson, 3Q 2026: Route 46/23/3 Corridor vacancy 5.9%, with just 60,060 SF under construction.
Newmark, 3Q 2026: Route 46/23 Corridor average asking rent $14.02/SF NNN, 4.1% vacancy.
Matthews, Q3 2026: northern NJ asking rent $16.59/SF, 6.2% vacancy, 6.36% average cap rate, $214/SF average sale price.
Each firm draws its submarkets differently, so figures are not directly comparable. Asking rents are averages, not achieved rents.
What it means for owners
Little new construction is coming, so existing buildings face less competition from new supply. Get a free rent and value estimate for your building.
Projects in the pipeline
The AcreX sheet tracks 59 commercial projects in these towns (23 warehouse, industrial or storage) and 19 mapped multifamily projects with 1,748 units, as of October 24, 2026. Commercial tab · Pipeline tab
Largest industrial projects
Minnisink Road Urban Renewal data center, Totowa: 300,000 SF, approved.
558-600 Getty Avenue warehouse (former Corrado’s Market buildings), Clifton: 187,000 SF, approved.
555 Hamburg Turnpike self-storage, Wayne: 85,330 SF, approved.
441 Newark Pompton Turnpike warehouse, Wayne: 73,400 SF, pending.
212 Passaic Ave warehouse, Fairfield: 21,954 SF, completed.
Zen Real Estate warehouse addition, Little Falls: 17,092 SF, approved.
Largest multifamily projects
36 Cliffside Drive Affordable, Cedar Grove: 317 units, approved.
Clifton & Co. (former Black Prince Distillery), Clifton: 300 units, under construction.
1655 Valley Road, Wayne: 275 units, approved.
Map
For owners
Owner questions
Which towns are in the Route 46/23/3 Corridor?
Fairfield, Wayne, Totowa, Little Falls, Clifton, Verona, Cedar Grove. This is the town list AcreX uses; brokerage research firms draw their submarkets differently.
What do warehouses rent for in the Route 46/23/3 Corridor?
Route 46/23 Corridor average asking rent $14.02/SF NNN, 4.1% vacancy. Source: Newmark, 3Q 2026.
How many projects are planned here?
59 commercial projects and 19 mapped multifamily projects (1,748 units) in the AcreX sheet as of October 24, 2026.
Who pays the broker when I lease my building?
It depends on the listing agreement. In New Jersey a broker can only enforce a commission agreement that is in writing (N.J.S.A. 25:1-16), so the fee and who pays it should be agreed before marketing starts.
Related pages
Talk to AcreX
Book a consultation with Jonathan Libock · Call (201) 694-6463 · jon@acrex.co
Sources: NAI James E. Hanson 3Q 2026 Industrial Report (Oct 5, 2026); Newmark 3Q 2026 Northern NJ Industrial Market Report; Matthews Northern NJ Industrial Q3 2026 (Oct 30, 2026); AcreX pipeline sheet, Commercial and Pipeline tabs, rows marked for the map, as of October 24, 2026. Updated November 2, 2026.